Central Pennsylvania Nesties
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Ladies who have built new construction homes...
We're still going in circles driving ourselves nuts:)
Is it really the
case that there's lots of wiggle room on upgrades?? That we can offer
less than the
asking price and then(assuming they'll counter as the builder),
negotiate with upgrades, etc even if we still pay the full list price? I'm obsessing on the "buying a home" nest
board
and seeing a lot of people who got a lot in upgrades/incentives rather
than a lowered purchase price which would actually be completely fine
for us. I
don't even know if I'm wording this well, but I'd love your
thoughts/suggestions on the negotiating additional options to be
included.
Re: Ladies who have built new construction homes...
My first question is "Are you working with a Realtor?' They should be able to answer all your questions and if they can't, they aren't very good.
Anyway, We are looking into building ourselves and just spoke with a potential realtor today. We were told that even with new construction, you should be able to still get a deal in addition to the advertised incentives. Whether it is getting more "freebies" or just a lower agreed price. On some of the home shows I've been watching, you can sometimes gets things that would ahve cost extra, added in for free.
One thing I will warn you. Many builders offer a financial savings...or so they want you to believe... if you use a specific mortgage company/broker. You really aren't saving anything. The builder basically is taking $ off that he'll receive anyway from the banking company as a "thank you" and you'll end up with a higher interest rate on the loan to cover that gift to the builder. A friend of ours is a loan officer and he said they do it all the time. As of now, at least where he is, it is still legal, but expects it to become illegal in a couple of years since it's rather shady business practices. You are better off getting you own lending and using a Realtor to negotiate price. Especially in todays market, unless there are multiple bids or the area you are looking has really been selling, you shouldn't have to pay full price. You might also consider looking at ones that are being built but haven't been bought yet. The builder isn't going to want to be stuck with it once its built and many times you can still grab it in time to make choices in the materials.
HTH